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Oberoi was born to Anand Sarup Uberoi, a Punjabi business man and Kartar Devi on 17 December 1946 in Quetta, then Punjab Province (British India), present day Pakistan. Within a year due to partition the family along with four brothers and sisters moved to India, and later relocated to Hyderabad state where his family established a chain of medical stores. Oberoi attended St. George's Grammar School in Hyderabad and was active in sports. He was Tennis and swimming champion, later winning President’s Award as Boy Scout. After his father’s death when just out of high school, Oberoi along with his brother continued running his pharmacy chains.[5]

In early 70s, due to his interest in acting and a good voice he gained entry into radio shows and stage plays prompting him to attend the Film and Television Institute of India in Pune. Suresh Oberoi, prior to joining the Acting Institute, met Yashodhara who was from Tamil Nadu and the couple married in Madras in 1974. In 1976 future Bollywood actor Vivek Oberoi was born and the couple relocated to Mumbai.[5]

In his early Mumbai years, his prior Radio show experience and his well received voice kept him going and his contacts with advertising agencies led to being picked up as model for Charminar cigarettes and Lifebuoy soaps making his one of the leading models by late 70s.

In late 1978 he made his debut in Ek Baar Phir, but the film was not commercially successful. Later he was part of the radio program Mukaddar Ka Sikandar. In 1980 again he made his re-entry in Laawaris and thereafter till the early 2000s appeared on average in four to five films per year. He has made over 135 films. He recited few couplets in the song "Dil Mein Phir Aaj Teri" with Anuradha Paudwal for film Yaadon Ka Mausam (1990).[6]

Suresh Oberoi met Yashodara in Hyderabad in early 70's and later married in Madras in 1974. The couple's first son is the Bollywood actor Vivek Oberoi, born in 1976 and a daughter Meghna Oberoi born few years later. His wife Yashodara is originally from the Coimbatore region in Tamil Nadu and belonged to the Palayakottai Pattakarar family of Kangeyam, in present day Erode district.[5]

In addition to acting and singing, he was also the host of the show Jeena Isi Ka Naam Hai on Zee TV for his clear voice and diction. Besides all of above, he writes "romantic and philosophical poetry".[7]